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Hemispherx Bio inks direct equity offering at $1.50; shares slump 19%

Aug. 31, 2016 10:22 AM ETAIM ImmunoTech Inc. (AIM) StockBy: Douglas W. House, SA News Editor
  • Thinly traded nano cap Hemispherx Biopharma (HEB -19.2%) slumps on more than double normal volume in response to its announcement of a private $5M equity placement with two institutional investors. The deal consists of common stock at $1.50, with each share being paired with one five-year warrant to purchase 3/4 of a share of common at $2.00.
  • Net proceeds will fund technology transfer opportunities, expenses related to Ampligen manufacturing, working capital and general corporate purposes.
  • Yesterday's close was $1.77.

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